Standards for Maintenance Providers: Vendors, Contractors and Suppliers
Our FBS assignment as the property management agent for rental owners is outlined in our Management Agreement. Our management must do everything within our authority to insure that repairs and maintenance routines are professionally managed. Our standards in this area require that we initiate, manage and maintain business relationships with vendors, contractors and suppliers that will consistently provide timeliness of service, quality of work and competitive pricing. If property improvements are implemented with our supervision the same standards will be applied.
Guidelines for achieving this standard include:
- Stay in compliance with the maintenance cap and make sure funds are on hand before work is started. Exceptions must be approved on a case basis by the Operations VP.Only utilize maintenance providers that have complied with the requirements outlined in this section. Verify with Accounting that compliance is current. Exceptions must be approved on a case basis by the Operations VP.
- Clearly communicate our specific expectations to the maintenance provider before the assignment.
- Require progress reports throughout assignment. Understand the details and alternatives as decisions are made.
- Inspect and approve work when rendered and invoices when submitted.
- Confront and resolve issues quickly to keep assignments on track.
- Communicate with owners as needed to stay in compliance with property management agreements. Over communicating with owner can be as detrimental as procrastination. Examples include: too often; too soon; too many choices; bad timing. Our agency as a professional property manager calls for the clear and documented communication of resolutions versus conflicts; results versus efforts; recommendations versus problems.
- From our rental owners’ view the maintenance providers we choose are an extension of our management. We must manage them effectively in order to defend a course of action, a decision, a price, etc.
An FBS preferred vendor must be licensed, bonded and insured. A Vendor Declaration Packet must be processed into the system before any work can be assigned.
We are always looking for quality Vendors to work with, but the process does take some time so your patience is appreciated. If you are interested in providing improvements, repairs or maintenance services at properties managed by FBS you are invited to request and submit our Vendor Declaration packet to the Accounting and Compliance Department.
Please call today to request a Vendor Declaration Packet.